Angeles Investment Advisors LLC Has $1.49 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Angeles Investment Advisors LLC reduced its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 36.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,538 shares of the social networking company’s stock after selling 1,446 shares during the period. Angeles Investment Advisors LLC’s holdings in Meta Platforms were worth $1,486,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. JDM Financial Group LLC bought a new position in shares of Meta Platforms during the third quarter worth about $30,000. Safe Harbor Fiduciary LLC bought a new stake in Meta Platforms in the 3rd quarter valued at approximately $36,000. Millstone Evans Group LLC acquired a new position in Meta Platforms during the 4th quarter worth approximately $40,000. Avondale Wealth Management bought a new position in shares of Meta Platforms during the 4th quarter worth approximately $41,000. Finally, Cordant Inc. acquired a new stake in shares of Meta Platforms in the fourth quarter valued at approximately $59,000. Institutional investors own 79.91% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. KeyCorp decreased their target price on shares of Meta Platforms from $750.00 to $710.00 and set an “overweight” rating for the company in a research report on Tuesday, March 18th. Barclays raised their price objective on Meta Platforms from $630.00 to $705.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Argus set a $775.00 target price on Meta Platforms in a report on Tuesday, February 4th. Wells Fargo & Company raised their price target on Meta Platforms from $685.00 to $752.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Finally, Tigress Financial reiterated a “strong-buy” rating on shares of Meta Platforms in a research note on Tuesday, February 11th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $718.31.

Insider Activity at Meta Platforms

In other Meta Platforms news, CTO Andrew Bosworth sold 5,060 shares of the business’s stock in a transaction on Saturday, February 15th. The shares were sold at an average price of $736.67, for a total transaction of $3,727,550.20. Following the sale, the chief technology officer now owns 5,139 shares of the company’s stock, valued at approximately $3,785,747.13. The trade was a 49.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Christopher K. Cox sold 20,000 shares of the stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $677.71, for a total value of $13,554,200.00. Following the completion of the transaction, the insider now owns 308,686 shares of the company’s stock, valued at $209,199,589.06. The trade was a 6.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 585,605 shares of company stock valued at $386,710,448. 13.71% of the stock is owned by insiders.

Meta Platforms Stock Performance

Shares of NASDAQ:META opened at $619.55 on Tuesday. Meta Platforms, Inc. has a 1 year low of $414.50 and a 1 year high of $740.91. The stock has a market capitalization of $1.57 trillion, a price-to-earnings ratio of 25.90, a price-to-earnings-growth ratio of 1.42 and a beta of 1.23. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. The company’s 50 day simple moving average is $655.60 and its 200 day simple moving average is $607.11.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.75 by $1.27. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. During the same period last year, the business posted $5.33 EPS. As a group, research analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th will be issued a $0.525 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.34%. This is a boost from Meta Platforms’s previous quarterly dividend of $0.50. Meta Platforms’s dividend payout ratio is 8.78%.

Meta Platforms Profile

Meta Platforms, Inc engages in the development of products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and wearables worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment offers Facebook, which enables people to share, discuss, discover, and connect with interests; Instagram, a community for sharing photos, videos, and private messages, as well as feed, stories, reels, video, live, and shops; Messenger, a messaging application for people to connect with friends, family, communities, and businesses across platforms and devices through text, audio, and video calls; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.